Good morning. My name is Tracey, and I will be your conference operator today. At this time, I would like to welcome everyone to the Schweitzer-Mauduit, first quarter 2010 earnings conference call. All lines have been placed on mute to prevent any background noise. After the speakers remarks there will be a question-and-answer session. (Operator instructions) Mark Spears, you may begin your conference.

Thank you Tracy. Good morning. I am Mark Spears, Corporate Controller at Schweitzer-Mauduit International. Thank you for joining us today to discuss Schweitzer Mauduit’s first quarter 2010 earnings results. Participating on today’s call are Fredric Villoutreix, Chairman and Chief Executive Officer; and Pete Thompson, our Executive Vice President of Finance and Strategy. Frederic will discuss the key factors impacting our business. Pete will then provide additional details related to our first quarter results and outlook. We will then take your questions. Before we begin I would like you remind you that the comments included in today’s conference call constitute forward-looking statements. Actual results may differ materially from the results suggested by these comments for a number of reasons which are discussed in more detail in the company’s Security and Exchange Commission filings, including our Annual Report on Form 10-K. Certain financial measures discussed during this call exclude restructuring expenses, and are therefore non-GAAP financial measures. As slide presentation accompanies our formal remarks. A copy of which can be found under the Investor Relations portion of our website or you can follow along on the webcast. With that I will turn the call over to Frederic.

Thank you Mark, and good morning everyone. On today’s call I would say some high level comments about our first quarter performance. I would also comment on the working agenda for 2010, and our priorities moving forward; including comments of our recently announced LIP plans in Europe and an update on the progress with [Inaudible] expansion in Asia. Due to current litigation, our comments about LIP pattern actions would be limited. Except to say the suit against our competitors, emerging LIP patent infringement in the U.S. is proceeding for the normal legal process. Pete will then take you through a more detailed review of our financial results and guidance. Slide four summarizes our financial results of the quarter. We did have good performance across the board, with substantial year on year increases in revenue, net income and earnings per share. Cash generation was strong, and we now have a positive net cash which Pete will discuss. Our first quarter results demonstrate the continuous strength of our high value product strategy. Base paper operations maintained a possible level, albeit below 2009 levels, despite higher pulp prices and somewhat lower selling prices that became effective in January 2010. We achieved solid earnings per share of $1.19 in the period, which equates to restructuring and internal expenses. Adjusted for an $0.18 per share dilution impact of November 2009 secondary equity offering, the first quarter adjusted EPS would have been a closed second best quarter in our 15 year public company history. Of course the proceeds of the secondary operating are now being put to work to grow our high margin, highly return, optimal business, which in turn will see further earnings growth beginning in 2012. Moving to slide five; growth of our high value products, LIP paper and RTL products was impressive at…

Thank you, Frederic. I will now review our results for the quarter and update our financial guidance. Net sales of $193 million for the first quarter increased 4.8% over the prior year. Net sales grew in all of our segments, primarily due to improved selling prices, and a richer product mix, reflecting our continued shift to higher value LIP and RTL products. Currency exchange also benefited the annual comparison, but this will likely swing to an unfavorable comparison in coming quarters, due to the weakness of the Euro to the US dollar. Unit volume grew 3.3% across SWM as we’ll discuss on the next slide. Excluding currency impact and the idled Malaucene facilities prior year volumes, we grew revenue 5.4% during the first quarter, which is inline with our goal to exceed 3% annually. Our unit volume performance was good during the first quarter in all three of the presented views of our business. We realized significant growth in high value products, reflecting both growth in LIP from 100% regulation in the U.S. market, combined with strong sales of RTL during the first quarter, which reflected our French RTL facility’s good production performance. Global tobacco papers volume decline 0.9% year-over-year as losses, primarily from the closure of Malaucene facility, along with market related declines in North America were nearly fully offset by growth in sales from our China paper joint venture. We expect a less favorable volume comparison in coming quarters due anticipated declines in demand for global tobacco paper markets, excluding China. Full year growth for RTL is still expected to be at the mid single digit level, but likely somewhat below the strong first quarter shipping rate, due to customer inventory bills. A major multinational cigarette companies are largely reporting first quarter cigarette sales inline with our expectations,…

(Operator Instructions) Your next question comes from Ian Zaffino - Oppenheimer & Co. Ian Zaffino - Oppenheimer & Co : The question would be really more on the LIP you are at the strengthening, what would you think is allowing you to [Inaudible]. The first move or advantage, is it here your customers fear that they’ve got to come out with pending patent litigation and that we expect these. Then maybe I guess you could just walk us through how your agreements work with the cigarette manufacture as far as when they are specing out, how long to place on, how closely we work with them before you actually launch the cigarette, and then what are the barriers to entry. Thanks.

Good morning and let me take this question. I think its’ all of the above and more. I think security of supply will become the main drive for the international to secure a solution that works and also proving in the market place, and also to be ready when the regulation hits the European market. As I think as you know, and as we discussed a little bit earlier, the milestone right now is very important as far as the time out to be published and the mandate of the CM which is the European citation committee to publish or standout in August, September; and then it will be up to individual countries to adopt regulation where the traditional player can be short of six months. So for the internationals, they want to make sure that there is capacity installed to meet their need, that could come as early as even the last first quarter of 2011, and then from then to ramp up production to fill the retail pipeline. This is a matter of four plus months as we demonstrate it with some sales for Australia and Finland, say to impact the fourth quarter of 2009. Now we are being in discussion with all internationals and customers in Europe for several years as we communicated before. We have been engaged in activity to qualify our technology, our products, in the various brands in Europe, and I think it’s a combination of the timing, the combination of the value proposition that we offer, a combination of the proven capabilities of our products, and the need for these companies to add a competitive product that allow them to compete effectively in the marketplace.

(Operator Instructions) There are no further questions at this time.

Okay good. Thank you very much.

Thank you, Tracey. Thanks you everyone. Have a good day. Bye, bye.